TL;DR Breakdown Algorand price analysis is bearish for today.ALGO/USD saw significant volatility again over the past 24 hours.Bulls gain momentum on the one hour price chart. Algorand price analysis: General price overview The price of Algorand is bearish for today, as the market was unable to move past the $2.20 mark after a rapid climb during the last hours. As a result, we believe that ALGO/USD will retreat and attempt to test the $1.90 support area again. ON the 5-day ALGO/USD price analysis chart, The RSI was seen hovering towards the overbought region. This suggests that the market has generally been bullish in the past week. The long-term technical indicators show that the bull market that saw its way last month might continue through the year. The Moving Average indicators show a bullish potential as the short-term indicator crossed above the 200- day Moving Average. The moving average lines consolidated at one point, meaning that the buyers wanted to enter the market. Source: Coin360 The entire cryptocurrency heat map is red; This is an indication of the negative market trend. The giant virtual currency (BTC) is trading in the same bear trend. BTC is currently trading at $47.9 despite going past the 50K mark in the early days of the month. ETH is also trading in a severe bear trend so is the Binance coin (BNB). Even though the market has been bearish, some coins have managed to be bullish, Solana has recorded a more...
